50+ Secured Card from Top Banks
Looking for a Secured Card?
Credit Card
Keeping the mandatory requirement of fixed deposit aside, secured credit cards work like a regular credit card. You will be assigned a credit limit (usually 70-90% of your fixed deposit amount). You can use the card to make purchases both online and offline and pay the bills as and when due. If you fail to make the full payment on time, finance charges will be applicable, just like regular credit cards.
01. Benefits of Secured Credit Cards
A secured credit card does not only help you build a better credit score but also offers the following benefits:-
Interest on FD, which lets you earn and enjoy the benefits of a card at the same time
Rewards program, which allows you to earn reward points every time you use the card.
Revolving Credit, allowing you to carry forward balances to the next billing cycle
Interest Free Credit Period of about 30-50 days
Interest on FD, which lets you earn and enjoy the benefits of a card at the same time
Rewards program, which allows you to earn reward points every time you use the card.
Revolving Credit, allowing you to carry forward balances to the next billing cycle
Interest Free Credit Period of about 30-50 days
02. Secured Card by Loansupportindia - StepUp Credit Card
Issued by SBM Bank (India) Ltd, in association with Paisabazaar, StepUp credit card is a secured card provided against the fixed deposit opened at the time of card application. This card can shield you from a bad credit score and improve your credit score. It is best suited for those who wish to own a credit card but are unable to qualify for the same.
Key Features of Step Up Credit Card
Here are the key features of Step Up Credit Card which makes it a preferred option for those who want a credit card but do not qualify for it:
Joining Fee: It has a low joining fee of Rs.500, excluding taxes.
Renewal/Annual Fee: From the second year of joining, a nominal annual fee of Rs.250 is charged, excluding taxes.
Interest on Fixed Deposit: A comparatively higher interest rate of 6.5% on your fixed deposit.
Interest-Free Period: The interest-free grace period could range from 20 to 50 days.
Credit-limit: The credit limit for your Step Up card will be ~83% of your fixed deposit amount. Fixed Deposit Plan worth Rs.12,000 will give credit limit of Rs.10,000Rs.24,000 will give credit limit of Rs.20,000Rs.60,000 will give credit limit of Rs.50,000
Digital Process: A hassle-free, completely digital process to get your secured credit card.Rewards: Decent rewards are given on all your spendings.
Easy Approval: The approval process is fast and easier because the banks are already risk-free by accepting a security deposit from the borrowers.
Key Features of Step Up Credit Card
Here are the key features of Step Up Credit Card which makes it a preferred option for those who want a credit card but do not qualify for it:
Joining Fee: It has a low joining fee of Rs.500, excluding taxes.
Renewal/Annual Fee: From the second year of joining, a nominal annual fee of Rs.250 is charged, excluding taxes.
Interest on Fixed Deposit: A comparatively higher interest rate of 6.5% on your fixed deposit.
Interest-Free Period: The interest-free grace period could range from 20 to 50 days.
Credit-limit: The credit limit for your Step Up card will be ~83% of your fixed deposit amount. Fixed Deposit Plan worth Rs.12,000 will give credit limit of Rs.10,000Rs.24,000 will give credit limit of Rs.20,000Rs.60,000 will give credit limit of Rs.50,000
Digital Process: A hassle-free, completely digital process to get your secured credit card.Rewards: Decent rewards are given on all your spendings.
Easy Approval: The approval process is fast and easier because the banks are already risk-free by accepting a security deposit from the borrowers.
03. How to get StepUp Credit Card?
Visit Paisabazaar’s StepUp Credit Card Page.
Click on ‘Apply Now‘.
Fill in the form on the redirected page with your KYC details.
Complete your Digital KYC by uploading an Aadhar document.
Pay for the selected Fixed Deposit plan from your verified savings account.
Access your Step Up virtual card immediately.
Get your physical Step Up Credit Card delivered to your home.
You can start using your Step Up virtual card as soon as you complete your application. Application for Step Up Credit Card is completely digital and it doesn’t take more than 5 minutes.
Click on ‘Apply Now‘.
Fill in the form on the redirected page with your KYC details.
Complete your Digital KYC by uploading an Aadhar document.
Pay for the selected Fixed Deposit plan from your verified savings account.
Access your Step Up virtual card immediately.
Get your physical Step Up Credit Card delivered to your home.
You can start using your Step Up virtual card as soon as you complete your application. Application for Step Up Credit Card is completely digital and it doesn’t take more than 5 minutes.
04. Who should get a StepUp credit card?
StepUp Credit Card is best suited for individuals with a low or poor credit history, which keeps them from qualifying for a regular credit card. People who wish to earn rewards on their spends and grow their money at the same time should consider investing in this credit card.To improve/build your credit history with the help of a secured card, you should use it responsibly for several months or a couple of years.
